A couple of days ago, we reported that starting from Monday, 26 June 2023 at 8am, young individuals aged 18 to 20 or full-time students enrolled in higher education institutions (IPT) can begin the registration process to receive a RM200 credit for the e-Tunia Belia Rahmah program.
To get the RM200 credit, eligible individuals have to register on one of the three e-wallet service providers, namely Boost, Setel, and Touch ‘n Go eWallet. But you must be wondering, there are plenty other eWallets in Malaysia, why only these three?
According to the Ministry of Finance (MoF) e-Tunai Belia Rahmah’s FAQ, the ministry said a total of 10 prominent eWallet providers were invited to take part in the program based on their transaction volume and active user base. The ministry established a set of terms and conditions for participation, including meeting the program’s technical requirements, sharing costs, and offering additional eWallet incentives that align with the government’s allocated credit.
After thorough discussions and evaluations, three eWallet providers, namely Boost, Setel, and Touch ‘n Go eWallet, were chosen as participants in the program. These three providers collectively boast over 10 million users and have access to a network of more than 2 million merchants across both online and offline channels. The ministry emphasised that their robust and extensive network ensures a comprehensive implementation of the program nationwide.
The credit received through the program, as well as the corresponding benefits offered by the participating eWallet providers, can be used offline until 31 August 2023.
In conjunction with the RM200 e-cash credit provided by the government as assistance, the participating eWallet service providers will also offer additional incentives during the program. These incentives may include vouchers, cashback rewards, or discounts on reward points, which will be available throughout the program’s duration.
